The Abu Dhabi government has offered 27 new industries to investors in the food, pharmaceutical and energy production sectors, with the aim of achieving self-sufficiency in them, with great distinct incentives that include exemptions from licensing fees, a share of government purchases, customs exemptions and a reduction in electric tariffs by more than 30%.
The most prominent new industries include ophthalmic preparations, medical gloves, laboratory equipment and surgical operations, in addition to manufacturing industries for dates, seeds, animal feed, industries for solar panels, water consumption, electricity and water pumps, and feeding and supplement industries for aluminum, iron and cement industries.
The Department of Industrial Development revealed, in a media briefing yesterday, at the Abu Dhabi Economic Media Club, in the presence of officials of the Industrial Development Bureau, about new details of the "Basic Industries Project", which was announced at the beginning of this week, and includes increasing investments in 4 main industrial sectors, namely the food, medical and support for energy production and industries. Iron, aluminum and cement, with the aim of achieving self-sufficiency in the emirate of basic commodities that are most consumed locally.
The department confirmed, during a presentation during the briefing, that the total investment in the food, medical and energy production sectors amounts to about 11 billion dirhams, of which 5.88 billion are for 69 food industries, 723 million dirhams for 13 medical industries and 4.35 billion dirhams for 13 energy production industries.
He called on investors to pump new investments into existing industries and new industries. Engineer Nabil Al-Awlaki, Director of the Environment, Health and Safety Department at the Industrial Development Bureau, revealed that Abu Dhabi conducted an evaluation study of the current situation during the (Covid 19) pandemic, and the gaps in the four industries were precisely identified, after the actual volume of production, consumption and actual need was identified. It was agreed with 7 strategic partners, namely the Departments of Health and Energy, Abu Dhabi Agriculture and Food Control Authority, Emirates Aluminum Company, Emirates Steel, Al Ain Cement Factory and Abu Dhabi Investment Office to develop existing industries and create new industries that we badly need and enter the core of our food and drug nations. "We have seen big gaps in some industries, compared to very few gaps in others," he added. Without a doubt, the medical industry is the most in need at the present time for more investments.
We expect to invest heavily in it, while we have strong self-sufficiency in the aluminum, iron and cement industries. Al-Awlaki growth index and a "growth index" that will be applied in cooperation with the Abu Dhabi Investment Office to measure progress in each new industry up to date and the size of the accomplishments that have been achieved and the obstacles it faces to search for solutions in cooperation with the Abu Dhabi Investment Office.
Incentives Khalid bin Zamah, Director of the Local Content Program at the Industrial Development Bureau, confirmed that the Abu Dhabi government has proposed a large incentive package that includes a share in government procurement tenders and a reduction in electric tariffs by rates ranging between 10% and 30% and in some cases more than 30% for industries that have a high economic impact.
In addition to customs exemptions and exemptions from licensing fees, all with the aim of attracting more investments. Mohamed Al Hosani, Director of Internal Investment at the Abu Dhabi Investment Office, confirmed that the Abu Dhabi government is applying a flexible policy to attract more investment to the industrial sectors, pointing out that the office announced the financing of 5 investment projects recently worth $ 100 million in the agricultural technology sector, and it currently has a large group of projects that will be Funded, and entered the final negotiation stage. Priority will be given to investments that employ citizens.